Authority: National Company Law Tribunal, New Delhi Principal Bench
Order Date: 06.07.2026
Case Overview
The matter involves proceedings under Section 7 of the Insolvency and Bankruptcy Code, 2016 (CIRP) between Small Industries Development Bank of India (Petitioner) and M/s. Radhay Sham Tandon Manufacturing Pvt. Ltd. (Respondent). The specific application being considered was IA-2902/2026, where the applicant sought permission to withdraw the application at the current stage while requesting liberty to approach the Resolution Professional regarding grievances related to amendment of the Information Memorandum dated 24.04.2026.
Final Outcome
The NCLT bench comprising Justice Anupinder Singh Grewal (President) and Shri Ravindra Chaturvedi (Member Technical) dismissed the application as withdrawn but granted the applicant the liberty to approach the Resolution Professional for redressal of grievances concerning amendment to the Information Memorandum dated 24.04.2026.
Topics: Insolvency Proceedings, Financial Dispute, Corporate Resolution